Bulgaria attracts Irish investors in droves

The Post, * with excerpts, 18th September 2005

It was probably written in the stars that when the Irish discovered the price of property in Bulgaria they would flock there in their droves, and so it came to pass. Irish buyers have shown an enthusiasm for property in this re-emerging former communist country and the principal draw is price.

When it comes to budget-oriented property nobody else does it as cheap or markets it overseas quite so heavily as the Bulgarians.

Consequently, the Irish (and English) are filling planes to Sofia, Bourgas and Varna each week in search of the Holy Grail - cheap property which will double or even triple in value within a few years and offer a good rental return in the interim.

The news that Bulgaria is to accede to the EU in 2007 has increased the flow of prospective customers and the triple attractions of Sofia, the Black Sea coast and the country's as-yet underdeveloped ski slopes are attracting Irish buyers.

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